Argentina alcohol company signs letter of intent with Gevo

By Gevo Inc. | March 06, 2014

ENGLEWOOD, Colo. -- Gevo Inc., the world's only commercial producer of renewable isobutanol, announced March 6 that Porta Hnos S.A., an alcohol company in in Argentina, has signed a letter of intent to become the exclusive licensee of GIFT, a registered trademark, to produce renewable isobutanol.

"Isobutanol's versatility and hydrocarbon-like properties make it an ideal renewable fuel and chemical for Argentina and Gevo's GIFT technology is the most efficient way to produce it," said Fernando Porta, Vice President of Porta. "Porta is already a leading ethanol producer in Argentina and we would like to expand our footprint to other high-value renewable alcohols such as isobutanol."

Porta is a 132 year-old family-owned company in Argentina that produces liquor, vinegars and has a 120 cubic meters per day (300,000 gallons) corn-ethanol plant. In addition, Porta has designed and built two 250 cubic meters per day (625,000 gallons) ethanol plants for others and they are working on two more ethanol plants for 2014. Half of all current ethanol plants in Argentina were designed by Porta, and they have a joint venture with Alpha Laval to provide separation and evaporation expertise.

"Commercial licensing of our GIFT technology in the U.S. and abroad is the next step in Gevo's business model and we are very pleased to be working in Argentina with an industry leader like Porta," said Gevo CEO Patrick Gruber. "Commercial licenses demonstrate the value of Gevo's GIFT technology to the market place and enables a low-capital route to building out renewable isobutanol capacity globally."